Analyzes

Despite AUD/USD pulling back a little, it still has a medium-term positive tone overall, reinforced by the RBA’s hawkish narrative, while speculative positioning also has its say.

The EUR/USD pair hovered around 1.1900 throughout the first half of Tuesday, unable to attract investors ahead of the release of United States (US) data. The Greenback enjoyed some near-term demand ahead of the release of Retail Sales data, but quickly changed course after the disappointing reading.

Near a mark of 6,979.50 at the moment in futures trading, the S&P 500 is flirting with its highest level, this as financial institutions and large players both continue to stress nervousness although it appears they are buying.

The S&P 500 initially pulled back on Monday, but we continue to see the markets attempt to break above the 7,000 level. This is a market that eventually goes higher from what I can see.

The silver market has jumped above the 50-day EMA on Monday, as traders continue to look at this market overall. That being said, this is a market that is also trying to heal from a horrific selloff.

Gold continues to show signs of strength on Monday with the US dollar falling, and the overall outlook for central bank rate cuts, especially in the USA.